These are top 10 stocks traded on the Robinhood UK platform in July
Robert R. Hill Jr., a director at Sonoco Products Co. (NYSE:SON), a company with a market capitalization of $4.5 billion and a solid "Good" financial health rating according to InvestingPro, recently sold a total of 4,000 shares of the company's common stock. The transactions took place on January 7, 2025, with the shares sold at prices ranging from $47.95 to $47.955 per share, amounting to a total value of approximately $191,819.
Following these transactions, Hill holds 16,065 shares directly. The sales were executed in two separate transactions: one involving 20 shares and another involving 3,980 shares. The filing was signed by Elizabeth R. Kremer, acting as Power of Attorney for Robert R. Hill Jr.
In other recent news, Sonoco Products Company has announced a significant move to sell its Thermoformed and Flexibles Packaging (NYSE:PKG) business to TOPPAN Holdings Inc. for $1.8 billion. This strategic divestiture is part of Sonoco's ongoing efforts to streamline its portfolio and focus on its core industrial paper and consumer packaging segments. The transaction is expected to close in the first half of 2025, pending regulatory approvals and other customary closing conditions.
Sonoco's Q3 2024 results showed mixed performance with sales totaling $1.68 billion and adjusted earnings per share of $1.49. Despite operational challenges from hurricanes and volume shortfalls in the rigid paper can segment, the company managed to offset these with substantial productivity savings. Additionally, Sonoco confirmed the closure of the Eviosys acquisition in Q4 2024, which is projected to enhance earnings.
In terms of analyst coverage, Truist Securities recently initiated a Buy rating on Sonoco Products, highlighting the potential for multiple expansion. Conversely, Baird adjusted its outlook on Sonoco, reducing its price target while maintaining a Neutral rating, reflecting the company's ongoing portfolio restructuring efforts.
Lastly, Sonoco Products is implementing strategic divestitures and focusing investments on three core businesses. The company projects an adjusted EBITDA of $1.5 billion and cumulative operating cash flow of $4 billion to $5 billion over the next five years. These are among the recent developments in the company's operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.